JAKARTA - Deputy Chairman of Commission XI of the Indonesian House of Representatives, M Hanif Dhakiri, asked the government to do three important things after the resignation of the President Director of the Indonesia Stock Exchange (IDX) Iman Rachman and a number of senior officials of the Financial Services Authority (OJK), to provide a sense of security and certainty for investors.
Hanif said his party respected and appreciated the resignation as a form of moral and ethical responsibility of the post after the trading halt or the collapse of the JCI for two consecutive days.
"However, it needs to be emphasized, the resignation of officials is not the main solution to the market problem. What is far more important is ensuring that investor confidence is not further eroded," said Hanif Dhakiri, Saturday, January 31.
According to Hanif, the JCI that fell was not merely a technical market problem, but reflected a combination of global sentiment and domestic anxiety. Starting from external pressure, policy uncertainty, to perceptions of market governance.
"In a situation like this, what is needed is not panic, but calm, transparent, and reassuring leadership," he said.
Therefore, Hanif considers that the government needs to immediately do three things. First, provide consistent and credible policy signals, especially related to fiscal stability and the financial market.
Second, strengthen coordination between OJK, Bank Indonesia, and the Ministry of Finance so that the response to market turmoil runs integrated. Third, maintain investor confidence through honest, measured, and non-blaming public communications.
"The market is not afraid of corrections, but is very sensitive to uncertainty. Therefore, what is needed at this time is certainty of direction, management firmness, and leadership that gives a sense of security," said the former Minister of Manpower.
Hanif ensured that Commission XI of the DPR, which deals with finances, will continue to monitor this issue even until the election of the new CEO of the IDX.
"Commission XI will continue to monitor so that financial sector reform is healthy, transparent, and in favor of long-term stability," he concluded.
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